Accounting: How does equipment and tool purchases appear in a general ledger?
Ryjasu asked:
The questions I have for you accountants are:
1) What type of equipment and tools qualify as and asset and should therefore be added into an asset account (Vehicles I know do, but what about power tools, computers, office equipment, tractors, trailers, etc.) How can I distinguish?
2) Do equipment purchases that appear in an asset account also need to appear in an expense account?
Basically I have been given the task of accounting for this company and I’m not an accountant. The equipment thing is boggling my mind. Please help.
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What are the most modern tools used in food production and agriculture?
Platonic Mage asked:
Like I know the common thing is to picture people driving tractors around and whatnot, but even that seems somewhat old school. Does anyone know of any techniques or tools that have only been incorporated into agriculture and food production within the last 10 years or so? I’d especially be interested in something that uses computers.
Like I know the common thing is to picture people driving tractors around and whatnot, but even that seems somewhat old school. Does anyone know of any techniques or tools that have only been incorporated into agriculture and food production within the last 10 years or so? I’d especially be interested in something that uses computers.